Description: Gunfire erupts during robbery at downtown gas station, Chicago police say, Gas leak forces evacuations in Downtown Fort Worth, Gas prices: $8 a gallon spotted in downtown LA, Downtown LA gas station lowers prices following FOX 11 coverage
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" Downtown Las Vegas Area " is the name assigned by the Nevada Gaming Control Board NGCB which includes the Downtown Las Vegas area casinos and the Stratosphere Tower which is located 2 miles (3.2 km) from Fremont Street . The city of Las Vegas uses the term Downtown Gaming for the casinos near the Fremont Street Experience . The land is part of the 110 acres (45 ha) that were auctioned on May 15, 1905 when the city was founded.
Currently downtown Las Vegas is the only place in Las Vegas where the casinos are clustered around an outdoor pedestrian zone. Caesars Entertainment has announced plans to build a similar venue with an observation wheel similar to the London Eye near the Flamingo.
In fiscal year 1988 the ratio of revenue for the Strip compared to downtown was less than 3:1. In FY2008 the ratio is over 10:1. However, downtown rode the massive increase in tourist spending from 2004 through 2007 that swelled the non-gaming revenue of the area. Non gaming revenue and income hit an all-time high in FY2006.